Multiple Thames Water customers find themselves bound to outdated 3-decade-old billing plans.
Thames Water Stuck with Outdated Tariffs: Bills Skyrocket for Thousands
It's a nightmare for thousands of Thames Water customers who find themselves on 30-year-old tariffs, according to The Sun. These unlucky homeowners, largely without water meters, are witnessing their bills soar due to their property's outdated rateable value from the 1990s.
One Sun reader shares his story of a bill increase by a jaw-dropping 671%, from £21 to £162 a month! Despite Thames Water announcing an anticipated 31% bill rise come April, many customers have experienced increases exceeding 40%.
Many homes unsuitable for water meters, like several London flats, are feeling the pinch of these unfair tariffs. In fact, around 70% of properties in London are deemed unsuitable. This leaves these customers at a disadvantage.
The Sun has reported a surge of cases to Thames, asking them to investigate the issue. Industry regulator Ofwat warns that some customers may face bill increments above the average.
Thames responds: "We offer extensive support for customers grappling with bill payments."
Meanwhile, Thames Water's financial troubles continue to mount. They're desperately trying to negotiate a multi-billion pound rescue deal. The company faces significant debt, regulator fines, and infrastructure challenges[1][3].
For customers struggling with these outdated tariffs, it's clear that Thames Water is in need of a comprehensive solution to address this issue.
[1] https://www.bloomberg.com/news/articles/2023-02-14/thames-water-sweats-on-debt-as-uk-regulator-pushes-mode-swap[3] https://www.reuters.com/world/uk/thames-water-owner-ee-debts-40-bln-pound-rescue-2023-05-11/
Bonus Reads:
- BEAUTY & THE BEAST - Frasers Group weighs up takeover of Revolution Beauty
- WHOLE LOT - Expert tips to bag the entire £208m EuroMillions jackpot
- TAXING TIMES - HMRC announces major change for all taxpayers in shake-up
- BERRY SWEET - McVitie's launches fruity flavour of the nation's favourite biscuit & they're PINK
- TAX BLOW - Anticipated increase in council tax bills at the fastest rate in 20 years
- London's Landmarks Turning Green for Pride Month
- British Woman Breaks World Record for Holding Her BreathAnd more, check out our website for the latest updates!
Top Stories
Most read in Money
Chick It Out - Popular US fast food giant to open 45 new restaurants in the UK this year
The escalating financial struggles of Thames Water, as evidenced by their multi-billion pound debt and ongoing negotiations for a rescue deal, highlight the urgency for a comprehensive solution to address their outdated tariffs that are causing bill increases for thousands of customers, particularly in London's business sector.
This situation, where property owners find themselves bearing the brunt of outdated rateable values from the 1990s, raises concerns about the fairness of the current finance system in relation to business operations and households.
